Box 2, Folder 1, Document 12

Dublin Core

Title

Box 2, Folder 1, Document 12

Text Item Type Metadata

Text

l\1EIG1-IBOR..1-IOOD D:'!:V:-.:LOP11ENT PROGR.!J :;:
PI'OJ ECTS
APRI L 29 , 1969
�The City of At l anta i s pres ent l y engage d in ei ght Ur ban Renewa l Pr ojec ts
and five Neighbo r ho od Development Pro gram Projects (3 i n ex ecut ion , 2 in
planrti ng onl y).
Thes e pr oj ec ts a r e f unded jo int l y by t he Ci ty and t h e
Fede:r:a l Governmen t.
The fu nding a r r angement ca ll s for a contribution
equal to one- th ird of the Ne t Proj ect co s t s from t h e City wi t h t h e remaining ti,10~t h i rds being s upplied by the Federa l Government .
The Ci t y ' s share ma y be i n the f or m of cash cont r i butions or non- ca sh
grants-in-aid , t hes e grant s -in- a i d ar e demol it io n and r emova l wor k ,
pr ojec t or s it e i mprovements , public and support ing f acil ities , and ot h e r s
s uch a s c red i t s f rom cons truct ion of pub lic ho us i ngs .
At pr ese nt, t he
eight Ur ban Renewa l pro j ec t s presen tl y in execution are s unm1ar i zed a s
follows:
Net Pro j ec t Cos t s
Loc a l Non-C a sh Gran ts - In-Aid
Loca l Ca sh a nd Rea l Es t a te
Cr edit s
$60 millionl
20 million
1 million
This poi nts ve ry emphat ic a lly to the f ac t t hat our pr es ent Urban Renewa l
pr ogram has b een f inanced al most compl etel y through t h e us e of non- cash
grant s-in- aid .
The r e su lts of t h is pol i c y c an b e seen in tl~e long d elays
enc ountered in th e c los ing out of these pr ojects, some of wh ich da t e back
i nto the 1950 ' s ·.
Th e cash used f or thes e pr oj ects has c ome from money set aside i n the 1957
a nd 1963 General Ob l igat ion Bond Issue s and to t aling $3.2 mil l i on o Th er efo r e, we have, at present , $2.1 million of unenc umbered f und s ava ilab l e
f r om thi s s ource .
Of th is amount, $1.7 is pre s ent l y expected to be needed
lo£ thi s a,t1ount $4. 5 million or 7}{/4 has been incurred as interest charges o
�·.
' -
to mee t . tl ,e cash r equi rements of t he Bedfor d-Pine Nei ghbo r hood Development
Program Proj ec t i n 1970 .
The non- cash con t ributions of $20 mi l lion a re the e l igibl e portion of
to tal expenditures tota ling ab out
$2 9 million and have some of the
fol lowing fo rms .
Schoo l
Sec tion 1072 & Special Credi ts
Stre et s
Parks
Wa t er I mpr ovement
Sewer I mpr ovemen:: s
Spec i al Fac i l it i es
Tra ff:i. c I m:_Jl'."ovements .
Other
$11o4 million
1. 3 mi ll ion
~.• 7
mi ll i on
• 7 mi ll i on
.6 million
06 mill i on
.3 mi ll i on
.1 million
o3 mi llion
$20 . 0 million
Some o f th e prob l ems encountered becaus e of th e us e of non-ca sh cont ributions ( 9li. o8% of total city f unding) as t he City ' s s our ce of funding Ur ba n
Renewal activiti e s ar e:
1.
But l er St ree t
A.
Middle School with a to tal e s timated co st of $2 milli on has
been delaying th e c l ose of this pro j ect, but should be under
contrac t by August of 1969.
2o
Rawson - Washington
A.
Ne ighbor hood Fa c ilitie s, Build ing with a total es t i ma ted co st
of $1 million of wh ich $150, 000 will be a n eligible pr oj ect
c ost.
This pr oj ect i s at pr esent unfunded with the only
pos sib l e s ource of f unds being through Model Ci ties o
It is
presently planned for the City t o purchase the l and f r om th e
Housing Au thor ity a nd hold this unt il a dete rmi nation is made
�·• J
-
r egarding the use of Mode l Ci t ies funds.
B.
Park with an estimated co st of $240,000 of which $33,000
will be eligible costs .
No source of funding is presently
ascertainable .
3.
Rockdale
A.
Elementar y School with an estimated cost of $1.5 million and
expec ~ed to be under contra ct by August of 1969.
B.
An expansion o f the existing ele1 entary school with
BL
esti-
mated c ost of $700 ,000 and at present unfunded .
C.
Par k 1·1 ith an estimc1ted cost of $75,000 which is also pre sent l y
unfunded.
~..
Thomasvil le
A.
Elementary school with $LS million estimated cost and exp ected to b e under contract by August , 1969 .
B.
Park with estimated cos t of $126,000 which is at p res ent
unfunded.
C.
Tw:> prima ry schoola
with $1 million estimated total cost and
a middle school with an estimated cost of $2 mi llion are unfunded and no source is seen until &t least J une of 1971.
The advent of the Neighborhood Development Program has brought to an end
the period during which the City could pledge an improvement and then
wait until funding became ava ilable before completing it.
Under the terms
of an NDP agreemen t , the Ci t y mus t have comple ted or have und er contrac t
all non-cash grants-in-aid pl edged f or t h at part i c ular year or contribute
t he required amount i n cash .
- 3-
�-I_
I
'
Our present NDP pr oj ec ts we:;_·e funded for 1969 fr om already ex isting i mprove~
ments or suppor ting facilities amoun ting to a tota l City coP-anittment of
$10 .8 million.
This supports a t ota l l·~eighborhood Development Program of
$32.fi. million.
The 1970 program is expected to have the following City requirements :
Non~Cash
Cash
Bedfo1·d-Pine
$ • 2 million
$1. 7 mil lion
1.5 millinn
1.3 million
Hodel Cities
• l mi ll1.c11
. 2 mi llion
Edgewood
• 2 million
.
1
mil
?.
ion
Vine City
$3.Lf mi ll lou
$1.9 mill ion
Thi s would support a total program of $1909 mi l lion and would i ncrease
great ly if the Edgewood and Vine Cit y proj ect s were expanded to a significant level of activi t y.
This means that to support th e fair ly light level of activity projected f.o r
1970, the City wj_ll need approxi mately $1. 7 million .
I f any new areas are
added or the level of activity increased this woul d increase f rom $2 •.S to
$4. 0 mi llion for 19 700
The possible s ources of fund s include:
1.
General Funds - This ro urce is already under considerab l e pressure and
no relief is presently anticipat ed .
2.
The G.
annually .
o.
Bonds already approved, f or issue in the amount of $4 mi llion
'
The fi nanc ing of Neighborhood Development Pro6rams from these
bonds would require t he us e of almost this entire amoutit every year and
could ver y likely be come embroited in l egal tangles.
3.
Another possibility is a spec ial Neighborhood Development Program
General Obligation Bond Issue of $10 - $20 million in 1970 with another
issue 4 or 5 years lat er or the obtaining of voter approval to issue
G. O. Bonds for this purpose in the amount of $3-5 million per year.
�'
.I
This approach is n atura l ly s ubject to t:..he ut :Lrns of th e public, and, t herefo re , of unce rtain dependab ility .
4.
PerLaps the be st metlod would be th r ough the obtaining of a n eH revenue
s ource, by s tate approva l, such as a s ales tax or a payr oll tax of which a
c ertain portion wou ld be earma:i::-ked for Neighborhoo:1 Deve lopmen t Progr e....rns .
Of cours e in the pursuit of a new sourc e of r ev enue we are a t lo ggerh eads
with the sta ~
and may not be able to obta in a s at isfacto ry revenue source .
Regard le s s of the method you f avor in ob t aini ng the needed funds , it is
i mperat i ve, if the City of At lanta is to ma inta in its progre ssive i mage and
t o c ont i nu e its drama t ic deve l opment , that a source be found ; bec au s e the
cont i nuat ion of a signific ant program of restoration and rehabl i ta tion of
t he c entral co r e of Atlanta i s a v ital element in t he continu ed evo l utio n
o f our Cityo
- 5-

Social Bookmarking

Comments

Transcribe This Item

  1. http://allenarchive.iac.gatech.edu/originals/ahc_CAR_015_002_001_012.pdf

Document Viewer